Budget 2019: Fiscal deficit for FY20 pegged at 3.4%

The fiscal deficit for FY20 has been pegged at 3.4 per cent of the GDP, finance minister Piyush Goyal said in his Budget speech.

The fiscal deficit for the current fiscal has been revised upward to 3.4 per cent from the Budgeted target of 3.3 per cent. Fiscal deficit for FY21 has been pegged at 3 per cent.

Finance minister Piyush Goyal said that the government would have kept its fiscal deficit target below the Budgeted target of 3.3 per cent had it not been for the allocation of Rs 20,000 crore for the darner's income support scheme in the current fiscal.


The finance minister said that the fiscal deficit for FY20 would have been 3.1 per cent without the allocation of Rs 75,000 crore for income support for farmers under the PM Kisan Yojana.

Piyush Goyal on Friday unveiled a modest farm support scheme, under which the government plans to offer income support for marginal farmers at Rs 6,000 per year under a scheme called Kisan Samman Nidhi.